Diamond Fields Announces Update on Beravina Project

Vancouver, October 11, 2018 - Diamond Fields Resources Inc. (TSXV: DFR) ("DFR" or the "Company") announces an update on its Beravina hard rock zircon project in Madagascar ("Beravina" or the "Project").

As set out in the announcement of 7 February 2018, the Company commissioned consultants SGS South Africa, HATCH and the MSA Group to conduct analyses of the Beravina mineralisation, minerology, metallurgy and other deposit characteristics ("Work Program") in advance of an intended drill program.

The Work Program reviewed the independent 2012 JORC-compliant (but NI 43-101 non-compliant) Indicated Mineral Resource estimate of 1.8 million tons at 29.5% zircon undertaken by Badger Mining and Consulting (Pty) Ltd. and re-assayed historic drill core samples, which is expected to result in the production of a NI 43-101 compliant resource statement by the end of 2018.

The Work Program also reviewed a number of options for metallurgical and material processing from Beravina. This work included:

• Testwork to increase the understanding of how uranium and thorium are represented in the deposit, as well as an assessment of the suitability of traditional separation technology for removing these elements;

• Testwork to achieve higher concentrations of ZrO2 using standard heavy mineral separation processes; and

• Testwork to assess the extent to which contaminants can be removed through flotation.

The results showed that zircon can be concentrated to levels of between 50% ZrO₂ and 58% ZrO₂ with varying levels of thorium ingrained.

Further work anticipated in 2018 and 2019 is expected to include: evaluation of additional processing techniques to improve concentrate grade and remove deleterious elements; market testing of various potential products; and a further drilling campaign, this depending on positive market acceptance of the Beravina concentrates.

Qualified Person

The metallurgical & processing information contained in this press release has been reviewed and approved by John Derbyshire, PrEng, BSc Eng (Chem), FSAIMM, who is an independent Qualified Person as identified by National Instrument 43-101.

DIAMOND FIELDS RESOURCES INC.
SIGNED: "Sybrand van der Spuy"
Sybrand van der Spuy, CEO and Director

Contact: Earl Young at +1 214 566 3709

Michael Oke/Andy Mills
Aura Financial LLP
www.aura-financial.com
+44 20 7321 0000

Notes to Editors:

Diamond Fields Resources ("DFR") is a TSX Venture Exchange listed exploration and mine development company with assets in Madagascar and Namibia. In Madagascar, DFR is developing the Beravina Project, an advanced high grade zircon exploration prospect located in the west of the country, approximately 220km east of the port of Maintirano and near a state road. In Namibia, DFR is working with International Mining and Dredging Holdings (Pty) Limited to start an initial six month (non-continuous) offshore diamond mining program on the ML 111 licence area in 2018. The ML 111 concession has a ten year mining licence, effective until 4 December 2025, and lies within Luderitz Bay between Diaz Point in the south and Marshall Rocks in the north and at depths of 15 to 70 metres.

Website: www.diamondfields.com
The Company's public documents may be accessed at www.sedar.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.